Greater Manchester’s new Co Angel Investment service, the first of it’s kind in the UK, has announced this week that in its first three months in operation it has already received over £40m of investment applications from businesses across Greater Manchester.
The service, launched by Sir Howard Bernstein and Michael Oglesby of Bruntwood, has already received over 50 proposals for investment since it launched in November 2014 and is now in the process of reviewing and matching businesses with new individuals and groups of high net worth investors.
Co are opening a new front door for investing in Manchester Innovation, with Investors around the country excited by the prospect of uncovering the next Lovefilm or Zipwing. Co offers a new simple and secure investment process and the ability to maximise those opportunities through a co-investment by the British Business Bank sharing the risk of providing increased access to early stage capital.
The applications have come from a broad range of business sectors but a real demand across digital and creative, life sciences and med-tech has been uncovered. Co is working with investors and investment syndicates from across the UK focused on these sectors, including growing interest from institutional and private investors from overseas, and accessing capital that the region didn’t have access to before.
Co Angel Investment delivered by Business Finance Solutions (BFS) in partnership the British Business Bank and supported by expert private sector Partners, EY and Zeus Capital. Co brings together syndicates of business angels and co-investment from the British Business Bank’s £100m Angel Co Fund to invest between £200k and £4m in businesses over several rounds of funding in Greater Manchester.
Co Angel Investment makes the business of investment simpler and more secure by matching hand picked groups of investors with businesses that are prepared and poised to access investment. Unlike traditional Angel networks, Co Angel Investment provides an active vehicle and structured process to create syndicates and complete deals.